INDIANAPOLIS — It’s not just manufacturing and trade deficits. Supporters of proposed tariffs say it’s not a trade war, it’s a drug war.
President Donald Trump is looking to use tariffs in the fight to stem the flow of undocumented immigrants and fentanyl into the country.
Tariffs are a tool in the government’s toolbox to force other countries to make changes. The idea? Money talks.
Tariffs are a tax placed on imports coming into the U.S. from other countries. The tax is paid by American businesses buying the goods.
Experts say Trump is likely doing this for economic and political purposes.
“He’s trying to address some of these economic imbalances, and at the same time, he’s trying to exert some political negotiating leverage against these countries for other reasons,” said Larry Belcher, of the University of Indianapolis.
Will tariffs work? Time will tell. Some are worried countries may retaliate, leading to a …